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GlobeNewswire Harvest One Cannabis Inc. ("Harvest One" or the "Company") (TSX-V: HVT; OTCQB: HRVOF), a uniquely positioned cannabis-infused CPG leader, is pleased to announce that it has entered into an agreement with Mackie Research Capital Corporation, as sole bookrunner, and ATB Capital Markets Inc., as the co-lead underwriters (together, the "Underwriters"), pursuant to which the Underwriters have agreed to purchase, on a bought-deal basis, 25,810,000 units of the Company (the "Units") at a price of C$0.155 per Unit (the "Issue Price") for gross proceeds to the Company of C$4,000,550 (the "Offering"). Each Unit will consist of one common share of the Company (a "Common Share") and one Common Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.195 (the "Exercise Price") at any time up to 36 months following Closing Date (as defined below). The net proceeds of the Offering will be used to expand the Company's existing product lines and distribution channels, and for working capital and general corporate purposes. The Company has granted the Underwriters an option (the "Over-Allotment Option"), exercisable in part or in whole at the Underwriters' discretion, at any time until thirty (30) days following the Closing Date, to purchase up to the number of additional Units, and/or the components thereof, equal to 15% of the aggregate number of Units sold in the Offering to cover over-allotments, if any, and for market stabilization purposes. The Offering will be completed: (i) by way of a short form prospectus to be filed in all provinces of Canada other than Quebec pursuant to National Instrument 44-101 - Short Form Prospectus Distributions; and (ii) on a private placement basis in the United States pursuant to exemptions from the registration requirements of the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), and applicable U.S. state securities laws. The closing of the Offering is expected to occur on or about March 17, 2021 (the "Closing Date"), or such later or earlier date as the Underwriters and the Company may agree upon, and is subject to certain conditions including, but not limited to, the Company receiving all necessary regulatory approvals, including the approval of the TSXV, and the securities regulatory authorities, and the satisfaction of other customary closing conditions. |